SS728 | On Demand | Update | Self-Study
Annual Tax Update: Individuals and Sole Proprietors
Thursday, March 1, 2018 - Tuesday, April 30, 2019
Get ready for the upcoming tax season! This comprehensive CPE course presents what's new and what has changed in the federal individual income tax arena. It brings you up-to-the-minute guidance on the latest tax legislation, court decisions and IRS pronouncements. Gain practical insights and valuable tax-saving strategies from AICPA's seasoned tax professionals who know what the new laws, rules, and court rulings can mean for real-world taxpayers. With the ever changing tax laws and their increased complexity, you can't afford to miss this course!
- Identify those provisions subject to extender legislation. ? Recall the definition of "damages" for purpose of the physical injury exclusion. ? Identify the requirements for tip reporting. ? Recognize the requirements for a tax home to establish travel expenses. ? Distinguish deductible alimony from non-deductible child support. ? Identify the substantiation requirements for charitable contributions. ? Identify the nine criteria used to evaluate hobby loss deductions. ? Recognize the requirements for substantiation of business deductions. ? Distinguish state law from Subchapter K characterizations of recourse debt. ? Recognize the effect of community property law on S corporation stock ownership. ? Determine when an investment constitutes a partnership for tax purposes. ? Distinguish how the passive activity loss rules apply to real estate professionals. ? Determine the impact of intent on characterization of gain as capital or ordinary. ? Identify the annual inflation adjustments for various items. ? Identify situations in which the health coverage tax credit is applicable. ? Recognize the new reporting requirements for education credits. ? Determine the credit for nonbusiness energy property. ? Identify the significance of the Supreme Court's King v. Burwell decision. ? Recognize the basis consistency rule for inherited property.
- Charles Borek (view bio)
Tax practitioners in public practice and industry that need to stay on top of the latest changes in federal tax law for individuals and sole proprietors
- Latest tax legislation, court rulings, and IRS pronouncements related to individuals and sole proprietors
- Practical return preparation tips
- Latest developments for pass-through entities that affect Schedule C and Schedule E
- Tax-saving ideas
- Unique insights into new planning strategies
- Latest IRS rulings impacting individuals
- DOMA, same sex marriage, and its impact on taxes
- Latest developments on estates, gifts, and trusts
- Depreciation and amortization
Mr. Borek practices law and provides consulting services to accounting firms and nonprofit organizations as a principal with the Law Offices of O’,Connor &, Borek, LLC, the firm which he co-founded in 2000. His areas of expertise include taxation of individuals and small businesses, nonprofit law and accounting, and OMB Circular A-133 audits.
Charles has also taught a variety of courses at the University of Baltimore, School of Law and was named Visiting Assistant Professor of Law in 2003. While on the faculty he founded and was director of the University of Baltimore Tax Clinic, which provides free legal assistance to low income taxpayers involved in disputes with the IRS. Prior to joining the law faculty he was an Associate Professor of Accounting and Business Law at Prince George’,s College in Maryland.
He is a frequent lecturer for the American Bar Association, Maryland Institute for CPE of Lawyers and the American Health Lawyers Association. His 2003 book Contract Drafting and Review for the Maryland Lawyer was cited as authoritative guidance by the Court of Special Appeals of Maryland. Charles is a member of the bars of the U.S. Supreme Court, the U.S. Court of Appeals for the Fourth Circuit, the U.S. District Court for the District of Maryland, the U.S. Court of Federal Claims, the U.S. Tax Court, and the Court of Appeals of Maryland. He currently serves as a commissioner on the Howard County (Maryland) Pension Commission.